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April 28, 1999
BUFFALO, NEW YORK -- M&T Bank Corporation ("M&T") (NYSE:MTB) announced that its Board of Directors yesterday declared a quarterly cash dividend of $1.00 per share on M&T's common stock. The dividend will be payable June 30, 1999 to stockholders of record as of the close of business on June 1, 1999. M&T is a $20 billion bank holding compa...
April 20, 1999
M&T Bank Corporation ("M&T")(NYSE: MTB) today reported that diluted cash earnings per share rose 29% to $9.51 for the quarter ended March 31, 1999 from $7.37 in the first quarter of 1998. Cash net income for the recent quarter was $76.3 million, an increase of 48% from $51.4 million in the year-earlier quarter. Expressed as an annualized rate of re...
January 12, 1999
M&T Bank Corporation today reported diluted cash earnings per share, excluding nonrecurring merger-related expenses, of $31.69 in 1998, an increase of 21% from $26.14 in 1997. On the same basis, cash net income for 1998 was $251.9 million, up 38% from $182.4 million in 1997. For the fourth quarter of 1998, diluted cash earnings per share rose 21% t...
December 9, 1998
ROCHESTER AND BUFFALO, NEW YORK, (December 9, 1998) -- FNB Rochester Corp. ("FNB") (NASDAQ:FNBR), Rochester, New York, and M&T Bank Corporation (" M&T") (NYSE:MTB), Buffalo, New York, today jointly announced that they have entered into a definitive agreement for a merger between the two companies. R. Carlos Carballada, President and Chie...
October 21, 1998
BUFFALO, NEW YORK -- M&T Bank Corporation ("M&T") (NYSE:MTB) announced that its Board of Directors yesterday declared a quarterly cash dividend of $1.00 per share on M&T's common stock. The dividend will be payable December 31, 1998 to stockholders of record as of the close of business on December 1, 1998. M&T is a $19.5 billion bank hol...
October 9, 1998
M&T Bank Corporation (“M&T”)(NYSE: MTB) today reported diluted cash earnings per share, excluding non-recurring merger-related expenses, of $8.17 for the quarter ended September 30, 1998, up 19% from $6.85 in the third quarter of 1997. On the same basis, cash net income for the recent quarter rose 43% to $67.7 million from $47.4 million in the year...
October 1, 1998
BUFFALO, NEW YORK -- M&T Bank Corporation ("M&T") (NYSE:MTB) announced that it has been authorized by its Board of Directors to purchase and hold as treasury stock up to 200,674 additional shares of its common stock. This represents approximately 2.5% of common shares currently outstanding. The additional shares of treasury stock will be used in co...
July 22, 1998
BUFFALO, NEW YORK -- M&T Bank Corporation ("M&T") (NYSE:MTB) announced that its Board of Directors yesterday declared a quarterly cash dividend of $1.00 per share on M&T’s common stock. The dividend will be payable September 30, 1998 to stockholders of record as of the close of business on September 1, 1998. M&T is a $20 billion bank hol...
May 20, 1998
BUFFALO, NEW YORK -- First Empire State Corporation ("First Empire") (AMEX:FES) announced that it has been authorized by its Board of Directors to purchase and hold as treasury stock up to 155,133 additional shares of its common stock. This represents approximately 2% of common shares currently outstanding. The additional shares of treasury stock w...
May 19, 1998
BUFFALO, NEW YORK -- First Empire State Corporation (“First Empire”) (AMEX:FES) announced that at its May 19, 1998 annual meeting, stockholders authorized the bank holding company’s change of name to “M&T Bank Corporation.” The change will be effective on June 1, 1998. Also at the May 19 meeting, First Empire President and Chief Executiv...
April 1, 1998
SYRACUSE AND BUFFALO, NEW YORK (April 1, 1998) -- First Empire State Corporation ("First Empire") (AMEX:FES), Buffalo, New York today completed the acquisition of ONBANCorp, Inc. ("ONBANCorp") (NASDAQ:ONBK), Syracuse, New York and ...
April 1, 1998
Why has the merger taken place? Both banks recognize that there is an opportunity to create an even better bank for our customers by combining our operations through a merger. This will enable us to provide you with an even wider range of high quality financial products and services. What are the next steps? Now tha...
March 17, 1998
SYRACUSE and BUFFALO, NEW YORK (March 17, 1998) -- ONBANCorp, Inc. (“ONBANCorp”) (NASDAQ:ONBK), Syracuse, New York, and First Empire State Corporation (“First Empire”) (AMEX:FES), Buffalo, New York, jointly announced that at the special meetings held today, the stockholders of each company approved the merger between the two companies. U...
February 20, 1998
Two years ago, this section of First Empire State Corporation’s annual report discussed at length, and in generally disapproving terms, the then frenzied pace of consolidation through mergers and acquisitions in the banking industry. The text took a skeptical view of the goings-on and cited a number of studies which had found that bank combinations...
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